(1) (a) When the Registrar is satisfied that the books and records of a society are likely to be suppressed, tempered with or destroyed or the funds and the property of a society are likely to be mis-appropriated; or
(b) If the committee of a co-operative society is re-constituted at a general meeting of the society, or committee of a society is removed under section 37 or if the society is ordered to be wound up under section 78 and the outgoing members of the committee refuse to hand over the charge of the records and property of the society to the new committee or the administrator or the liquidator as the case may be, the Registrar or the person authorised by him may apply to the magistrate, within whose jurisdiction the society is functioning for seizing and taking possession of the records and property of the society.
(2) On receipt of an application under sub-section (1), the magistrate may authorise any police officer not below the rank of sub-inspector to enter and search any place where the records and the property are kept or are believed to be kept and to seize them and hand over the possession thereof to the Registrar, or the new committee or the administrator of the society or the liquidator as the case may be.
CHAPTER V DUTIES AND OBLIGATIONS OF CO-OPERATIVE SOCIETIES